Blockchain security firm PeckShield said on Twitter that it found altcoins allegedly associated with ChatGPT. As Kriptokoin.com, we have compiled the altcoins specified by the company for you.
Security firm alerted
Blockchain security firm PeckShield has raised the alarm after finding dozens of tokens allegedly related to the artificial intelligence (AI) powered chatbot ChatGPT.
In a February 20 post, the firm revealed that at least three “BingChatGPT” tokens appear to be part of their honeypot scheme. It is a smart contract that tricks a user into sending Ether, which the attacker then captures and retrieves.
According to PeckShield, at least two of the identified tokens have already lost about 100% of their value, while a third are at a loss of 65%. A Pump and Dump scheme typically involves creators staging a misleading statement and an exaggerated campaign to entice investors to buy the token, and then secretly selling their stake in the plan when prices rise.
These altcoins are used
‘Deployer 0xb583’, at least one of the bad actors behind PeckShield tokens, is responsible for creating ‘dozens of tokens with a Pump and Dump scheme’. While PeckShield hasn’t explained why bad actors are using the name BingChatGPT for their tokens, the scammers may be trying to capitalize on the February 7 announcement that OpenAI’s ChatGPT technology has been integrated into Bing and Microsoft’s Edge web browser.
The name of the token could be an attempt to trick victims into thinking they are somehow related to Microsoft and capitalize on the hype around AI chatbots. Blockchain analytics firm Chainalysis recently stated in a report released Feb. 16 that about 10,000 new tokens released in 2022 have all the on-chain features of the Pump and Dump schemes.
#PeckShieldAlert PeckShield has detected dozens of newly created #BingChatGPT tokens, of which 3 appear to be #honeypots & 2 have high sell tax. 2 of them have already dropped over -99%.
Deployer 0xb583 has already created dozens of tokens with a pump & dump scheme #AI #ChatGPT pic.twitter.com/merQikuslk— PeckShieldAlert (@PeckShieldAlert) February 20, 2023
According to the blockchain analytics firm, 1.1 million tokens were released last year, but only 40,521 tokens have had an ‘impact on the crypto ecosystem’ with at least ten exchanges for four consecutive days in the week after the launch. “Of the 40,521 tokens released in 2022 that received enough attention to be analysed, 9,902, or 24%, saw a price drop in the first week, indicative of possible Pump and Dump activity,” the firm said.
While a price drop alone isn’t an indication of wrongdoing by the token creators, the firm noted that it specifically examined 25 of them and found they were “definitely designed for a Pump and a Dump,” with malicious honeypot code preventing new buyers from selling the token.
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